At a Glance
- Tasks: Lead actuarial pricing for innovative insurance solutions and support broker negotiations.
- Company: Join Chaucer, a top global insurer with a diverse and inclusive culture.
- Benefits: Enjoy flexible hybrid work, extensive benefits, and a supportive environment.
- Other info: Opportunities for travel and collaboration across international offices.
- Why this job: Make an impact in the insurance industry while developing your skills in a dynamic team.
- Qualifications: FIA Qualified Actuary with strong analytical and project management skills.
The predicted salary is between 63000 - 77000 £ per year.
Chaucer is a leading insurance group at Lloyd's, the world's specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups. Headquartered in London, with international hubs in Copenhagen, Dubai, Miami, Dublin, Singapore, Sydney and Bermuda, to be closer to our clients across the world.
The Pricing Actuary will be responsible for actuarial pricing for Chaucer's growing Partnership and Innovation portfolio across London and international offices. Chaucer's Partnership team is a well-resourced and high profile business within the Group, writing a combination of bespoke partnership deals and large market facilities alongside new and innovative products to the insurance market, giving the Pricing Actuary a wide scope to develop and add value.
The role will be strongly underwriter and client-facing, incorporating support for broker negotiations, individual case pricing support, developing portfolio analytics capabilities, supporting strategic projects and developing new pricing capabilities. The Pricing Actuary will also provide pricing support for other classes and Group-wide projects as required.
The successful applicant will have strong technical pricing skills and strong project management and communication skills in order to provide effective broker and client support, and deliver across multiple workstreams and secure buy-in for new initiatives. We are looking for someone who enjoys solving problems and developing new ideas.
The Pricing Actuary will be located within the Actuarial pricing team in London and work directly with the underwriting teams and other pricing actuaries under the guidance of the Head of Pricing / Insurance Pricing Manager / Reinsurance Pricing Manager.
Key responsibilities include:
- Account pricing and underwriter support for broker negotiations
- Ongoing portfolio monitoring for accounts and overall portfolio
- Pricing model and other tool development, in line with actuarial pricing frameworks and technological solutions
- Pricing analytics and MI development and making use of available data to support risk selection and portfolio optimisation
- Ensure alignment of pricing with evolving exposure management practices and 'Own View of Risk' frameworks
- Provide input into the development of modelling approaches where appropriate
- Development of a deep understanding of the Partnership accounts, trends and underwriting team strategies
- Contribute ideas to wider delegated underwriting authority and trading strategies
- Keep abreast of industry initiatives, provide thought leadership, develop new pricing/visualisation techniques and best practice where opportunities arise
- Work collaboratively with underwriters, the pricing team and underwriting management
- Present and share knowledge with the wider Actuarial team on pricing approaches
- Provide assistance with other pricing team activities as required
- Project management of more junior team members & actuarial contributions to cross functional projects
Our requirements include:
- London Market pricing experience
- Experience of pricing bespoke deals and/or large facilities
- Experience of producing insights from portfolio data
Technical skills:
- Advanced IT skills, including comprehensive knowledge of Excel VBA, Python, SQL would be desirable
Education & Experience:
- FIA Qualified Actuary
- 2.1 or 1st degree in Mathematics or Mathematics-related subject (e.g. Physics, Engineering, Statistics)
- 3 or more strong 'A' levels, including Maths
Personal Skills:
- Stakeholder and project management skills
- Interpersonal, verbal and written skills
- Intellectually curious and results-oriented with a strong sense of responsibility
- Self-motivated, hard-working and committed
- Able to collaborate, work as a team and communicate with staff at all levels
Other responsibilities may include some travel in support of Underwriter/Client meetings and travel to Chaucer underwriting offices.
Why Join Chaucer? Chaucer is a leading global insurer operating in both Lloyd's and company markets, helping industries worldwide manage risk. We have shown strong financial success with our Gross Written Premiums growing from $1.4bn in 2019 to $3.5bn in 2024. Backed by strong teams, platforms, and client relationships, Chaucer is poised for continued success. We offer a flexible hybrid work model that supports individual and team needs, a diverse, inclusive culture that values people for who they are, and extensive, non-contributory benefits, including medical, life, and pension cover, flexible holidays, and wellbeing support.
Pricing Actuary - Portfolio Solutions in London employer: Chaucer Group
Chaucer is an exceptional employer, offering a dynamic work environment in the heart of London, where innovation and strategic thinking are at the forefront of our operations. We prioritise employee growth through mentorship and development opportunities within our Transport Logistics team, fostering a culture of collaboration and excellence. With a commitment to maintaining strong relationships with clients and brokers globally, we provide our employees with unique exposure to diverse markets and the chance to lead in a specialist insurance sector.
StudySmarter Expert Advice🤫
We think this is how you could land Pricing Actuary - Portfolio Solutions in London
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Chaucer Group). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Chaucer Group. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Pricing Actuary - Portfolio Solutions in London
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Chaucer Group.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Chaucer Group. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Chaucer Group
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Chaucer Group to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Chaucer Group, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Chaucer Group's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
